1st Edition

Interests and Behaviours of Real Estate Market Actors in Commercial Property Valuation

By Alina Nichiforeanu Copyright 2021
138 Pages 19 B/W Illustrations
by Routledge

138 Pages 19 B/W Illustrations
by Routledge

138 Pages 19 B/W Illustrations
by Routledge

This book is a theory-led conceptual account of the Principal-Agent problem and related concepts of Behavioural Real Estate economics, a decade after the real estate crisis of 2008. Data from 52 qualitative interviews undertaken with appraisers, real estate brokers, and property owners is used to argue that the reality is more nuanced and influenced by the interests of the different real estate... Read more

1. Introduction  2. Information asymmetries, Behavioural Real Estate, valuation and ethics  3. Conducting the study: 52 interviews with appraisers, brokers and owners  4.  Findings for Behavioural Real Estate  5. Findings for Principle-Agent theory and moral hazard in real estate  6. Conclusions

Biography

Dr Alina Nichiforeanu is Senior Manager in the Transaction Real Estate division of Ernst & Young Austria. She holds a Doctorate in commercial real estate valuation from the Vienna University of Economics and Business. She also attended further programs in real estate management at Harvard Business School. She is a member of the Royal Institute of Chartered Surveyors. Dr Alina Nichiforeanu has over 16 years of experience in the Austrian and Central and Eastern European (CEE) real estate markets, assessing current business environments, acting as a bridge between companies' headquarters and subsidiaries, and leading intercultural teams. She has a proven track record of successfully concluded transactions, optimizing and repositioning distressed commercial real estate assets, as well as construction and leasing projects, with a robust global network. Her areas of expertise are asset and portfolio management, transactions and M&A’s, property management, as well as corporate real estate, gathered at multinational companies in Austria and the CEE region.